Wealth Index
Less wealthy than 82% of counties in Texas
The wealth index reflects the overall economic prosperity and financial well-being of a county's residents based on income levels, employment rates, and income inequality metrics.
Income Statistics Overview
| Metric | Howard County | Texas Avg | US Average |
|---|---|---|---|
| Median Household Income | $71,720 | $76,510 | $78,145 |
| Median Personal Income | $62,769 | $58,415 | $61,726 |
| Average income growth | 4.9% | 4.8% | 5.1% |
| Six-Figure Earners | 11.3% | 12.4% | 13.2% |
The median household income in Howard County is about 6% lower than in Texas. Income has been growing faster in Howard County (4.9%/yr) than in Texas (4.8%/yr).
About 11% of adults in Howard County earn six figures ($100,000 or more) a year, lower than the Texas average of 12%.
Median Household Income 2009–2023 Trend
Median Household Income Over Time
Median household income in Howard County, Texas grew by 95.0% from 2009 to 2023, reaching $71,720 in 2023. That's an average of about 4.9% per year.
Economic Inequality in Howard County | Gender Pay Gap | Gini Coefficient
| Metric | Howard County | Texas Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.625 | 0.587 | 0.570 |
| Male Median Income | $77,074 | $64,517 | $67,746 |
| Female Median Income | $44,049 | $51,419 | $54,793 |
| Gender Pay Gap | 42.8% | 20.3% | 19.1% |
The Gini coefficient measures how evenly income is shared between richer and poorer households, from 0 (everyone earns the same) to 1 (one household earns nearly everything). The lower the number, the more equally income is distributed. In Howard County, it is 0.625, higher than Texas's 0.587, so income is less evenly distributed here than there, and higher than the US's 0.570, so income is less evenly distributed here than there.
Men's income is about 75% more than women's income in Howard County, Texas. Over a 35-year career, a 75% wage gap accumulates to roughly $1,155,875 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Howard County, Texas has widened from about 26% to 43% in 2023. In dollar terms, the gap has widened by $23,162 since 2009.
Employment
| Metric | Howard County | Texas Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 5.0% | 5.1% | 5.2% |
| Working from Home | 3.8% | 12.8% | 13.4% |
| Commute time (minutes) | 13 | 22 | 22 |
Approximately 713 people are unemployed in Howard County, Texas.
The average commute time in Howard County is 13 minutes, shorter than the 22 minutes in Texas.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Howard County, Texas has fallen from 8.1% to 5.0% in 2023.
Conclusion
Considering all these factors, Howard County, Texas has an overall wealth index grade of D, making it somewhat worse than Texas, and somewhat worse than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Howard County, Texas.
How Rich Is Howard County, Texas?
Howard County has a wealth index grade of D. The wealth index grades areas from A+ (best) to F- by combining income levels, employment rates, and income inequality; a D grade means residents are somewhat worse off than the U.S. average. The median household income is $71,720, about 6% lower than the Texas average of $76,510.
What is the current median household income in Howard County, Texas?
As of 2023, the median household income in Howard County, Texas is $71,720.
What was the median household income in Howard County in 2023?
In 2023, the median household income in Howard County, Texas was $71,720.
What was the median household income in Howard County in 2020?
In 2020, the median household income in Howard County, Texas was $57,562.
What is the Gini coefficient in Howard County, Texas?
The Gini coefficient in Howard County is 0.625. It measures income inequality on a scale from 0 (everyone earns the same) to 1 (one household earns everything). That is higher than the US average of 0.570, so income is distributed less equally than in the country overall.
How has the income gap between men and women changed in Howard County, Texas?
Since 2009, the income gap between men and women in Howard County, Texas has widened from about 26% to 43% in 2023. In dollar terms, the gap has widened by $23,162 since 2009.